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DESIGNATION AND AGREEMENT OF COUNTY DEPOSITORY FOR THE BOARD OF COUNTY C0451MISSIONERS Under Chapter 136, Florida Statutes, as amended. STATE OF FLORIDA COUNTY OF_ Indian River THIS AGREEMENT, made and entered into this, the -• 20th day of July A. D. 10 77. by and between the Southern Federal Savings & Loan of Broward County located at 765 21st Street—Vero Beach, Florida the Board of County Commissioners of the County of Indian River and the Comptroller, State of Florida. WITNESSETH: That the said Bank on the day Of- ----------,A. D. 19_, Is hereby designated a County Depository for Indian River County, Florida, as provided by laic•. This designation and agreement shall continue in effect until cancelled or discontinued by any party thereto, and until it has fully accounted for all funds deposited therein. If cancelled or discontinued by any party-, the other parties shall be notified. The funds hereinabove referred to shall include: county funds, funds of all county officers, and funds of the county board of public instruction; the enumeration of said funds being herein made, not by way of limitation, but of 'illustration, and it being the intent hereof that all funds of such county or of the board of county commissioners or the several county officers or of the board of public instruction of such court~•, shall be included. The bank does hereby agree to deposit to the credit of the Comptroller of the State of Florida acceptable securities or trust agreements sufficient to adequately secure deposits. It is furtr,er agreed that the depository may substitute any acceptable securities or trust agreements. The securities pledged are to be sufficient to adequately secure. the funds and may be increased or decreased as the funds are increased or decreased. The said securities or trust agreements therefor shall be subject to the approval of the Comptroller of the State of Florida, and shall be deposited with and held by him for the purpose of guaranteeing t e faithful performance of its duties as said Depository, as prescribed by law and such regulations as may be made by the Comptroller. It is agreed by the parties hereto that in case of a default upon the part of said Depository, or a failure upon its part to pay any warrant or order duly drawn upon it, when funds have been previously deposited with it in sufficient amount to pay said warrant or order, that said Board may after giving ten (10) da s notice to said Depository of its intention to do so, request the State Comptroller to sell at public or private sale, at the option of the Comptroller, a sufficient number and quantity of said securities, or any otter pecurities pledged, substituted for and held in lieu thereof, to fully pay and liquidate the amount of said deposit in full, any excess over said deposit received upon such sale, after payment of all cost incurred in . making sale, to be immediately paid over to said Depository. IN WITNESS WHEREOF, The said- Southern Federal Savings & Loan of Broward Co nar3ycausad this agreement to be signed by its President and its Cashier, and has caused its corporate seal to be affixed hereto, rind the snid The 11nard of County Conanisaioners for the County of_Tndinn River _ State of Florida, has caused its name to be hereunto a4med by its Chairman, attested by the Clerk of said Board, and has caused the seal of said Board to be affixed hereto, and the Comptroller has hereunto set his hand and affixed his official seal this the day and year first above written. SOUTHERN FEDERAL SAVINGS AND LOAN Attest • ASSOCIA�TTII}ON OF BROWARD COUNTY M re4�dert. THE BOARD OF COUNTY CO3A1,MISSIO.IERS Attest: • COUNTY OF IRIDIAN RIVER �P)h STATE OF FLORIDA. =� h.c>ya wkut u. Clark.. B y N . Chairman. WILLIAM C. WODTKE, J . By. Comptroller, State of Florida (Board Seal) (Bank Seal) (Comptroller's Seal) AUG 10 1971 BOOK 30 PAGE 292